On Thursday, the stock market saw some mixed movements as the major indexes reacted to conflicting jobs reports. Tesla (TSLA) made significant gains after announcing its plans to introduce self-driving software in Europe and China next year.
The Dow Jones Industrial Average dropped by 0.2% post the opening bell, while the S&P 500 rose by 0.1%, and the Nasdaq composite surged by 0.6%. The 10-year Treasury yield slightly declined to 3.73%, while oil prices increased with West Texas Intermediate futures hovering around $69.80 per barrel.
Key earnings movers included AeroVironment (AVAV), C3.ai (AI), Credo Technology (CRDO), Nio (NIO), and Toro (TTC). AeroVironment shares went up by 2%, whereas C3.ai plummeted by 15%. Credo stock faced a decline of over 13%, Nio witnessed a 4% jump in shares, and Toro shares saw a 12% fall.
In the coming days, investors are looking forward to the Labor Department’s report on the job additions in August, with expectations to add 160,000 U.S. jobs while the unemployment rate is anticipated to drop to 4.2% for the same month.
The stock market today also highlights companies like Arista Networks (ANET), Costco Wholesale (COST), Meta Platforms (META), and Netflix (NFLX) as top stocks to watch. Additionally, there are new entrants on IBD MarketSurge’s “Breaking Out Today” list, including Insulet (PODD), with several stock ideas on the “Near Pivot” list for investors to consider.
Overall, the market scenario remains dynamic, and investors are advised to stay updated with the current trading conditions and adjust their portfolios accordingly to capitalize on potential opportunities.
